Recent Buy – HRNNF

Since I got a tax refund this year – first time in probably six years – I decided to invest part of it.  I placed a limit order last Friday and naturally watched as the price rose.  This afternoon after the Feds’ minutes were released, the market dropped enough for my order to execute.  Following in the footsteps of The Dividend Girl and Dividend Arena, I am now the proud owner of …

hrnnf

Hydro One Limited, operates as an electrical transmission and distribution utility in Ontario. The company owns and operates approximately 29,000 kilometers of high voltage lines and approximately 123,000 circuit kilometers of low-voltage distribution lines; and 292 transmission stations, and approximately 1,000 distribution and regulating stations serving approximately 1.3 million customers across the province of Ontario.

The company completed its IPO 5 November 2015

Note: Upon completion of the secondary (April 2016), Province of Ontario retains 71.9% ownership (to be ultimately reduced to 40%).

The company trades under the symbol H in Toronto while the US trades are executed in Toronto under the symbol HRNNF.  As Hydro One has a limited history as an independent company, it probably flies under the radar for most screens.  They paid their first dividend in March and will pay their second June 30th (record date June 14th) in the amount of 21 cents per share (Canadian$).

My purchase was at $18.29 per share (US$) and depending on the exchange rate should yield about 3.54%.  I have no further new Canadian positions on my 2016 watch list.

 

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2 thoughts on “Recent Buy – HRNNF

  1. Surprisingly, Ontario generates about 4% of their power via solar. But with the producers remaining government owned I figured to put a strong US $ to better use in Canada with a monopoly distributor.

    Thanks for the visit!

    Liked by 1 person

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